Unit 9 Money, Іноземна мова

Module 4

Unit 9 Money

Vocabulary

In order to be able to discuss money and financial issues you need to learn the concept and definition of money and the related terms. For this purpose you can use the following information resources: 

http://www.allbusiness.com/glossaries/money/4944816-1.

html#axzz2LB5DuT17, http://www.allbusiness.com/

glossaries/money/4944816-1.html#axzz2LeF9rzJw 

Language focus: check up your knowledge of money issues in general at

http://www.english-test.net/esl/learn/english/

grammar/ai012/esl-test.php

http://www.englishmedialab.com/Quizzes/

intermediate/money%20and%20banking.htm

Reading

Read the article by Susanne Posel about the financial crisis in the world scale 

Information resource: 

http://occupycorporatism.com/

globalists-blame-financial-crisis-of-2008-to-usher-in-one-world-currency/

Globalists blame financial crisis of 2008 to usher in one world scale

The efforts of the Global Elite are to enable an environmentally-based economy within a one world government. This includes replacing the currency and economic structures in place.

The Royal Canadian Mint (RCM) has announced that they will stop printing pennies. The RCM have unveiled a digital RFID-chip based currency that can be loaded up, stored and spent in-store and online.

The RCM calls this currency MintChip; which will be a virtual payment method accessible through microchips, microSD cards and USB sticks.

This RFID-chip currency is collaboration with the US corporations and research and development outfits. Ian Bennett, president and CEO of the Mint explains: “As part of its research and development efforts, the Mint has developed MintChip, which could be characterized as an evolution of physical money, with the added benefits of being electronic.”

The MintChip is still under development, with patents pending and prototypes being studied. The creation and perfection of the technology must be useable with American markets.

Paul Solman, correspondent for the PBS NewsHour purveys the positive propaganda of one world currency by asserting that: “Ah, the dream: one world, one economy, one currency – and, of course, one global political system . . . a common currency means a common economic policy . . .”

The United Future World Currency is a foundation nearly 2 decades old that seeks to “bring to life the project for a common currency” once defined as the Euro. They are committed to bringing awareness to the necessity of global currency.

Organizations like this serve to make the idea of a global currency more palatable to the general public. Simultaneously, nations like China are pushing against the US dollar being the global reserve currency as the Federal Reserve continues to inflate the US dollar which debases its worth.

The Institute of International Finance (IIF), a group of technocrats that represent 420 banking cartels and financing houses have joined the cry for a one world currency.

Charles Dallara, managing director of the IIF, said: “A core group of the world’s leading economies need to come together and hammer out an understanding. The narrowly focused unilateral and bilateral policy actions seen in recent months – including many proposed and actual measures on trade, currency intervention and monetary policy – have contributed to worsening underlying macroeconomic imbalances. They have also led to growing protectionist pressures as countries scramble for export markets as a source of growth.”

The UN’s call for one world currency is contained in their report entitled,United Nations: Economic and Social Survey 2010. The UN asserted that the US dollar must be replaced by a new one-world currency issued by the International Monetary Fund (IMF).

The IMF’s suggestion is the Bancor, which was the supranational currency invention of John Maynard Keynes. When Keynes headed the World Banking Commission, he was integral in the creation of the IMF. However, its rise to power was halted at the Bretton Woods Conference where the US prevailed in establishing the US dollar as the global reserve currency.

In response to the Global Market Crash of 2008, Zhou Xiaochuan, the governor of the People’s Bank of China, revived the ideal of the Bancor by demanding that the IMF have special drawing rights (SDRs). Xiaochuan contented that national currencies were counter-productive to the global markets and that domestic monetary policy must not override international necessities.

The UN published a report following the financial crisis in 2008 entitled, The Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System wherein they created a commission to “restore global economic stability”.

UN Secretary-General Ban Ki-moon affirmed that a one-world currency would “bridge the old North-South divide” and that the UN’s “monetary vision” if properly implemented would be a “path out of our current predicament.”

In a report published in 2010, the IMF stated that the Bancor should be established and administered as the one-world currency. To go along with the one-world currency, the IMF advises the establishment of a one-world bank; who would also have issuance rights as the Federal Reserve Bank does within the US.

The IMF report states: “The global central bank could serve as a lender of last resort, providing needed systemic liquidity in the event of adverse shocks and more automatically than at present. Such liquidity was provided in the most recent crisis mainly by the U.S. Federal Reserve, which however may not always provide such liquidity.”

The advent of a global currency, if allowed to happen will be controlled by the UN, as the IMF is an arm of the globalist Elite front.

Simply put, this demand is a call for economic control by the international community for the express purpose of ensuring that the future of all sovereign nations eventually fall victim to the coming global governance. 

Answer the questions:

1. What are the leading organisations in solving global financial problems?

2. Why is a one-world currency mentioned and in which connection?

3. What are the consequences of the advent of global currency? 

Language focus: practise some vocabulary items concerning money matters both for the companies and governments at

http://www.english-test.net/esl/learn/english/

grammar/ai019/esl-test.php

http://www.english-test.net/esl/learn/english/

grammar/ai020/esl-test.php 

Gramma review

Describing trends

How do charts help describe and illustrate the points we make in our presentations?
To indicate tendencies or vectors of movement you may use the following verbs:

Upward change

To rise;

To increase;

To go;

To grow;

To climb;

To boom;

To show / see an upward trend;

To jump;

To rocket;

To recover;

To improve;

To surge;

To shoot up;

To soar;

To expand;

To take off;

To rally;

To put up;

To strengthen;

To bounce back;

To double;

To pick up;

To creep up;

Downward change

To fall;

To decrease;

To decline;

To dip;

To drop;

To slump;

To deteriorate;

To go down;

To reduce;

To lower;

To slip back;

To cut;

To shrink;

To halve;

To show / see a downward trend;

To weaken;

To slide;

To hit a low;

To plunge;

To plummet;

To collapse;

To crash;

To slump;

To bottom out;

To have a trough;

Stability

To level out / off (at);

Do not change;

To remained stable (at);

To remained steady (at);

To maintain at the same level;

To stay the same;

To stabilise;

To be / remain flat;

Fluctuation

To fluctuate (around);

To vary;

To peaked (at);

To plateau (at);

To stand (at);

To be volatile;

It is worth mentioning that the majority of the given verbs have a noun form:

Unemployment levels fell; or

There was a fall in unemployment levels;

Besides that, the preposition "by" is used with the verbs, and "of" – with the nouns:

It increased by 20%;

There was an increase of 5%;

You should  not forget the difference in use of the verbs:

To rise (without object)

Gas prices rose in June;

Others include: went down / fell / decline;

To raise (with an object)

The oil industry raised the prices in May;

Others include: cut / lowered / reduced;

Some words (increase, decrease) may be used with or without an object;

Adjectives

considerable;

dramatic;

drastic;

enormous;

gradual;

huge;

marked;

minimal;

moderate;

quick;

rapid;

sharp;

significant;

slight;

slow;

small;

steady;

steep;

substantial;

sudden;

swift;

temporary;

wild;

Adverbs

considerably;

dramatically;

drastically;

enormously;

gradually;

markedly;

minimally;

moderately;

quickly;

rapidly;

sharply;

significantly;

slightly;

slowly;

steadily;

steeply;

substantially;

suddenly;

swiftly;

temporarily;

wildly; 

It’s also important to remember that adjectives are used to modify nouns whereas adverbs are used to modify verbs, adjectives, other adverbs and clauses;

Generalizations

a great deal more than;

a way over;

about;

almost;

approximately;

around;

far less than;

just over;

just short of;

just under;

nearly;

not quite;

nothing like as mush as;

nowhere near;

roughly;

slightly more than;

somewhere in the region of;

well over;

well under;

Some useful phrases:

As can be seen from the chart, last year started on a positive note;

Initially;

At the beginning;

There was a sharp fall during March;

Over the summer … was flat;

In mid-April the prices started to rally strongly;

In autumn the market remained more or less unchanged, failing to break through the spring’s highs;

Over the last few months the market has advanced again;

In March the consumer spending was up and was close to reaching a high again;

This was followed by;

There was a;

In this year it started (to) / v-ing;

Show an upward trend;

Changed very little;

Diverged significantly;

Recovered slightly;

Continued an upward trend with some fluctuations;

Over the period from … to …;

Despite an overall increase, the … figures were characterized by a number of peaks and troughs over the … years;

It then fluctuated around this level… 

http://www.blairenglish.com/exercises/

numbers_figures/exercises/describingtrends1/describingtrends1.html 

For more information see Market Leader. Course book. Intermediate business English/ D.Cotton, D.Falvey, S.Kent: Longman, 2001 (p. 138) [1]

Check your understanding of grammar and do the exercises:

http://www.blairenglish.com/exercises/

numbers_figures/exercises/describingtrends1/describingtrends1.html

http://www.englishexercises.org/makeagame/

viewgame.asp?id=5277

http://www.uefap.com/vocab/exercise/matching/trends.htm

http://vipos.edu.rs/slike/knjige/engleski_1.pdf

http://oppematerjal.sisekaitse.ee/eppleibur/describing_graphs/

http://www.ieltsbuddy.com/describing-graph-trends.html

http://www.ihbristol.com/free-english-exercises/

test/esol-smc-describing-graphs

Skills: Describing trends

Improve your business skills of describing graphs and trends. Watch the video and put down some useful expressions and words. Usethe information resource: 

For more information see Market Leader. Course book. Intermediate business English/ D.Cotton, D.Falvey, S.Kent: Longman, 2001 (p. 70-77) [1] 

Revision: check up your understanding of the global financial environment at 

http://www.english-test.net/esl/learn/english/

grammar/ai228/esl-test.php

З повагою ІЦ "KURSOVIKS"!